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The Houthis in Yemen – Who are they and what do they want?

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The world has witnessed a surge in attacks on ships in the Red Sea by Yemen’s Iran-backed Houthi rebels.

The attacks have raised concerns about who the Houthis are and why they have been attacking maritime targets in the region.

Who Are the Houthis?

The Houthi movement, also known as Ansarallah (Supporters of God), is a key player in the ongoing Yemeni civil war, which has been raging for nearly a decade.

The movement traces its roots back to the 1990s when its leader, Hussein al-Houthi, initiated the “Believing Youth,” a religious revival movement centered around a centuries-old subsect of Shia Islam called Zaidism.

Yemen’s Houthis enter Mideast fray, hardening spillover fears …

The Path to Power

Tensions escalated in 2003 when Saleh backed the United States’ invasion of Iraq, a move opposed by many Yemenis.

Seizing this opportunity, al-Houthi organized mass demonstrations against the government.

After months of turmoil, Saleh issued an arrest warrant for al-Houthi. Although al-Houthi was killed by Yemeni forces in September 2004, his movement continued to grow.

The Houthi military wing expanded, and they eventually took control of the northern province of Saada, calling for an end to the Saleh regime.

Do the Houthis Control Yemen?

After Saleh agreed to hand power to his Vice President Abd-Rabbu Mansour Hadi in 2011, the Houthi movement remained active and dissatisfied with the new government.

In 2014, they launched another offensive, capturing parts of Yemen, including the capital, Sanaa. By early 2015, they had even stormed the presidential palace.

Hadi fled to Saudi Arabia, which launched a military intervention against the Houthis at his request in March 2015.

Who Are Their Allies?

The Houthis are closely aligned with Iran, which began providing support to the group in 2014 as the civil war intensified and Iran’s rivalry with Saudi Arabia grew.

Iran has supplied the Houthis with weapons and technology, including sea mines, ballistic and cruise missiles, and unmanned aerial vehicles.

Houthi Attacks in the Red Sea

While the Houthis may not pose a significant military threat to Israel, their recent attacks on commercial vessels in the Red Sea have caused significant disruptions.

Using drones and anti-ship missiles, they have targeted both Israeli and non-Israeli ships, leading to heightened tensions in the region.

The Importance of the Red Sea

The Red Sea is a critical maritime trade route, connecting the Bab-el-Mandeb straits off Yemen’s coast to the Suez Canal in northern Egypt.

Approximately 12% of global trade and 30% of global container traffic pass through this narrow waterway.

Recent attacks on commercial vessels by the Houthis have raised concerns about the potential impact on the global economy.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Global markets hit record highs all thanks to AI

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Is AI the main contributor behind the soaring markets in Australia, the US, Japan, and Germany?

Financial markets worldwide have witnessed record highs, creating a wave of optimism among investors.

The surge is attributed to a combination of positive economic indicators, policy developments, and the integration of AI across key economies, including Australia, the United States, Japan, and Germany. #ticker today #featured

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Dune Part 2 sets box office ablaze with $178m worldwide

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As “Dune: Part Two” continues its intergalactic journey on the silver screen, director Denis Villeneuve’s epic sequel has ignited the international box office, amassing a stellar $97 million from 71 overseas markets.

This impressive overseas performance has propelled the film’s global tally to a promising $178.5 million, further solidifying its status as a cinematic force to be reckoned with.

Starring powerhouse talents such as Timothée Chalamet and Zendaya, “Dune: Part Two” has captured the imagination of audiences worldwide, earning widespread acclaim and enthusiastic support.

The film’s success in North American theaters, where it secured the biggest domestic opening weekend of the year with $81.5 million, has been complemented by robust ticket sales in international territories.

Large formats

The immense popularity of “Dune: Part Two” has been particularly evident in premium large formats, such as Imax, which accounted for 48% of initial sales, driving up the film’s revenue even further. Mary Parent, producer of “Dune,” remarked on the film’s cultural impact, expressing confidence in its longevity at the box office.

Despite facing challenges due to the hefty production and promotional costs—reportedly totaling $190 million and $100 million respectively—the sequel has already demonstrated its box office prowess, surpassing expectations in its initial run.

With a global audience eagerly embracing the continuation of Frank Herbert’s epic saga, “Dune: Part Two” is poised for a successful box office run.

The film’s international debut marks a significant milestone in Villeneuve’s career, achieving the largest opening weekend in all 71 markets—a testament to its universal appeal. Notable highlights include the United Kingdom, where it earned $11.8 million, as well as France ($9.6 million), Germany ($9.1 million), Korea ($6.9 million), and Australia ($6 million).

With upcoming releases in key markets such as China and Japan, “Dune: Part Two” is poised to further bolster its global box office performance.

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Can’t beat ’em, buy ’em – Will Apple buy an EV maker next?

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Tesla’s competitors, including Rivian, Lucid, and Fisker, find themselves grappling with significant challenges, sparking speculation about potential acquisitions and partnerships within the industry.

Rivian, once hailed as a formidable rival to Tesla, has faced a stark reversal of fortunes.

Following a disappointing quarter and outlook, the company announced a workforce reduction of approximately 10%, while its market capitalization plummeted from a peak of $153 billion in 2021 to $11 billion.

Speculation arose about tech giant Apple considering an acquisition of Rivian, with industry experts citing the company’s low valuation as a potential attraction.

Gene Munster, managing partner of Deepwater Asset Management, suggested that Apple, having recently abandoned its own EV project, might view Rivian as an opportunity to enter the EV market.

Apple’s bad luck

While Apple’s history of acquisitions has been relatively conservative, Munster emphasized the potential significance of such a move for the tech giant.

Meanwhile, Tesla CEO Elon Musk offered a grim assessment of Rivian’s prospects, highlighting the urgency for cost-cutting measures and operational improvements. Musk’s remarks underscored the precarious position facing Rivian as it navigates through challenging market conditions.

In a similar vein, Lucid Motors has experienced a substantial decline in its market capitalization, dropping from a peak of $91.4 billion to $7.6 billion.

The company’s production targets have been revised downwards significantly, leading to speculation about its future viability. Despite rumors of a potential acquisition by Saudi Arabia’s sovereign wealth fund, no such deal has materialized, leaving Lucid to confront its operational and financial hurdles independently.

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